Exploration: LO5

a. How innovative are the firm’s products relative to those of its competitors? Scale 1 to 5

b. Are your customers willing to pay a high price for novelty products? Scale 1 to 5

c. How frequently does the firm develop new products? Scale 1 to 5

d. How difficult is it for other firms to develop related products? Scale 1 to 5 Now, mark the firm’s location on the exploration axis in Figure 2.2.9

e. Does your company use the latest digital technologies to develop new products? Scale 1 to 5

f. Does your company use the latest digital technologies to develop new markets (e.g. to qualify your customer approach)? Scale 1 to 5 If the score you gave is greater than 3, then the organization is high on exploration. If the score you gave is less than 3, then it is low on exploration.